Initially, The Observer sighed, fearing the worst. A divorce on the horizon? It’s happened before. “I love my wife,” Mr. Bronfman said via a spokesman. He declined to comment further on the purpose of the transfer, though it does not appear to be related to the Warner deal—unless of course a fat, taxable severance in need of offsetting is involved.

Correction: An earlier version of this article said Mr. Bronfman was stepping down as CEO, which he did earlier this year, not chairman, the move announced yesterday. The Observer regrets the error.